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In May 2024, Aspire launched in Hong Kong, offering a suite of financial solutions to SMEs, including the ability to open local business accounts for payables and receivables management, international payments, as well as paymentgateway solution. The group reported a gross transaction value (GTV) of IDR 116.5 trillion (US$7.2
In May 2024, Aspire launched in Hong Kong, offering a suite of financial solutions to small and medium-sized enterprises (SMEs), including the ability to open local business accounts for payables and receivables management, international payments, as well as paymentgateway solution.
And all of them – developed and developing – use regulated rails, bank accounts and compliant fiat currencies to remove user confusion and friction, establish trust, enable merchant acceptance and accelerate market entry and scale. Visa and Mastercard didn’t, as part of the ask, require banks to do business using a fake currency.
Similar to its US strategy, Amazon is investing in enabling faster frictionless payments to help boost marketplace sales — always a key focus for the e-commerce giant. Its first entry point in the market was in payments in October 2014. In May 2018, Amazon co-invested with Mastercard in an $8M Series B to ToneTag.
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